Due to the spread of the new coronavirus, face-to-face communication has been restricted, and marketing and sales activities are now conducted
online
. Online exhibitions (virtual exhibitions) have given way to
exhibitions
where you can get many leads at once.
While online exhibitions have the advantage of requiring less cost and effort, they also have the disadvantage of being difficult to turn into business negotiations. This time, we will introduce how to exhibit effectively while minimizing the advantages and disadvantages of online exhibitions.
What is an online exhibition?
An online exhibition is an exhibition held in a virtual space on the web. Also called virtual exhibitions, they are now being held more often due to the coronavirus pandemic. Recently, it has started to be held at the same time as real exhibitions.
In the “Survey on Participation in Trade Fairs and Exhibitions,” we asked respondents whether they would participate if they received an invitation to an online exhibition from an exhibition they had previously participated in. A total of 56.3% answered “I want to do this” and “I want to participate,” indicating that more than half of the respondents were eager to participate.
In addition to preventing infection, it eliminates the need for travel time and transportation costs, and the ability to participate without being restricted by location or time, which is an advantage that real exhibitions do not have.
There are two main ways to hold an online exhibition.
①Booth type
Just like at a real exhibition, you can freely move between the booths of each company. There are various types of virtual spaces available for online exhibitions, such as three-dimensional exhibition halls that use 3D expression to create a sense of reality, and exhibition halls that use 2D expression, such as those that use images and videos like a regular web page.
②Webinar type
The seminar will be held using online tools. You can apply for webinars on topics and speakers that interest you, and participate from anywhere. There are various formats, such as being able to participate at any time via recorded distribution, limited to participation only during real-time distribution, and being able to view the archive after real-time distribution.
Advantages and disadvantages of online exhibitions
For visitors, online exhibitions have the advantage of being able to participate without being restricted by location or time. On the other hand, there is also the disadvantage of not being able to touch the products and services directly. There are two advantages and disadvantages for exhibitors.
Advantage 1: You can reduce costs by not being restricted by place or time.
Exhibitors as well as visitors have the advantage of being able to exhibit without being restricted by location or time. It is not affected by physical influences such as weather or transportation delays.
In addition, there are no booth setup costs, pamphlet/novelty production costs, travel and accommodation costs, so the cost of exhibiting can be kept down.
Advantage 2: Detailed data on participants can be collected
Online exhibitions allow you to collect in-booth behavior data that cannot be obtained at real exhibitions. By analyzing behavioral data such as which materials they downloaded and how long they stayed, you can approach participants appropriately.
Additionally, by analyzing the behavioral data of all participants, it is possible to use it to improve booth content such as materials and videos.
Disadvantage 1: Cannot take active action
Unlike a real exhibition, you cannot talk to and communicate with attendees visiting your booth without using web customer service tools. Some online exhibitions do not have web customer service tools, so you have to wait until participants take action.
Disadvantage ②: Low sense of temperature and difficult to conduct business negotiations
Depending on the type of leads you can acquire, your enthusiasm and prospects for business negotiations may be low. If lead information is provided simply by visiting your company’s booth, if the lead does not take any action such as downloading materials or viewing videos, there is a possibility that the lead is not aware of the product or service itself.
How to exhibit at an online exhibition
All work for online exhibitions is completed online. We will proceed with preparations according to the functions of the online exhibition you will be participating in. There are five main functions of online exhibitions:
①Company booth registration
Create a page for your company booth. Register basic information such as company name and service/product name, and provide details such as product/service features and benefits. Also, register images that help you visualize your products and services.
②Registering materials and videos
You can register product/service introduction materials, videos, white papers such as useful materials, past seminars, etc. Select the content to be posted according to the target audience. Additionally, viewing and downloading materials and videos will be effective in gaining a sense of the participants’ temperature.
③Online business negotiations
You can conduct online business negotiations inside the booth. Reserve time for inside sales and field sales, and allow attendees to book deals. Online business negotiations can be done automatically, such as issuing URLs, so there is no need to prepare a separate tool.
Also, depending on the online exhibition, exhibiting companies may be able to offer business negotiations to participants.
④Web customer service tools
If you have a web customer service tool in your booth, you can communicate with attendees via chat. You can have real-time conversations, so you can answer questions and make suggestions to participants.
Answers must be provided in real time, so there must be staff available at all times.
⑤Questionnaire function
You can have attendees who visit your booth answer your company’s own questionnaire. We will set questions that can be used in business negotiations, and use them in future approaches along with lead information from participants.
Key points for making online exhibitions effective
Unlike physical exhibitions, online exhibitions allow the collection of participant behavior data. You can maximize the effectiveness of your online exhibition by analyzing participant behavior data, taking appropriate actions, and making improvements.
① Design approach to leads based on behavioral data
Specifically, we will decide how to follow up after each participant’s actions. We will design the details in detail, such as e-mail nurturing if you only want to visit the booth, or phone calls if you want to view product/service materials or videos.
②Analysis of content desired by participants
Analyze frequently viewed content from participant behavioral data. If you can derive content that is likely to lead to business deals from the analysis results, you can use it to improve the next time you exhibit, such as by enriching related content.
③Online exhibition sponsored by the company
Recently, services that provide platforms for online exhibitions have emerged, and it is now possible to hold an online exhibition in-house for the cost of exhibiting at a real exhibition.
If the event is held in-house, there are no restrictions on exhibitors, and visitors will not be dispersed to other companies. Once you create an environment on the web, it may become a strategy to acquire leads at a low cost in the medium to long term.
summary
- Online exhibitions refer to exhibitions held in a virtual space on the web, and have become more common during the coronavirus pandemic. Recently, it has been held at the same time as a real exhibition.
- Advantages for exhibitors are: (1) Costs can be reduced as they are not restricted by place or time; (2) Detailed data on participants can be collected; Disadvantages: (1) Active action cannot be taken; (2) Low sense of enthusiasm makes it difficult to conduct business negotiations.
- Online meetings free up time for inside sales and field sales, and allow participants to schedule meetings. It automatically issues URLs, so there is no need to prepare a separate tool.
- You can maximize the effectiveness of online exhibitions by analyzing participant behavior data, taking appropriate actions, and making improvements.